Saying it was “time to raise our game,” Gov. Bill Haslam unveiled a $50 million initiative on Thursday to promote entrepreneurship and spur private investment in Tennessee startup companies as part of a broader “knowledge-based jobs” creation plan.
The new plan includes $30 million to create investment funds that target early-stage or seed companies, along with an unspecified level of funding set aside for current or new business incubators across the state. Incubators are designed to help owners develop their ideas and give young businesses a low-cost place to start operating.
The initiative also calls for developing specific economic development plans by region.
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